Each electric bus costs 12.5 million rupees ($151,138), about five times that of a diesel one

The new brand will be an addition to Yangwang, a premium brand set for launch in the first quarter of 2023 that it announced last month

Buffett has been trimming his stake in the electric vehicle and battery maker this year, with the first share sale reported in August

Battery makers like China's BYD and Korean rival Samsung SDI are teaming up with VW and Mercedes to create an EV-producing mega-hub in Europe

“China is actually free to up its game with respect to environmental standards... and eventually join the alliance," Canada's Natural Resources Minister Jonathan Wilkinson said

Toyota has been reviewing a $30 billion, three-stage plan for developing and releasing electric vehicles it announced late last year

If successful, the IPO would be the first major US float of a Chinese firm since Beijing tightened its grip over Chinese companies' overseas share sales in July last year

Sales of NEVs, which include battery electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles, hit 786,000 units

Abnormal water quality has prompted concerns over the lithium being produced in the region, SCMP said

It has not been an established practice for the plant to shut down for a year-end holiday, which will cut planned production by a third

The firms aim to begin operations in 2025 and the joint plan will see $4-5 billion of investment in the factory

If successful, VinFast will be Vietnam's first company to list in the United States